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Global mobility fintech startup <keyword id="20582833" type="General" weightage="20" keywordseo="moove" source="keywords">Moove</keyword> on Wednesday said it has raised $10 million in new debt funding from leading venture debt fund <keyword id="19952355" type="General" weightage="20" keywordseo="stride-ventures" source="keywords">Stride Ventures</keyword> to expand its <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> footprint. The fresh capital will be utilised to scale the Indian fleet to over 5,000 and expand into new markets including Delhi, Pune and Kolkata, the startup said in a statement. "Our vehicles have completed over 4.2 million trips, significantly impacting India's mobility sector. With the robust support of Stride Ventures, we stand on the cusp of transforming vehicle ownership nationwide, propelling our mission forward," said <keyword id="20582834" type="General" weightage="20" keywordseo="binod-mishra" source="keywords">Binod Mishra</keyword>, Regional Managing Director, India and South Asia, Moove. Gurugram-headquartered Moove has established its presence in Bengaluru, Mumbai and Hyderabad. "Our alliance with Moove is set to transform vehicle ownership accessibility throughout India, marking a significant leap towards social and economic advancement," said <keyword id="20582835" type="General" weightage="20" keywordseo="apoorva-sharma" source="keywords">Apoorva Sharma</keyword>, Managing Partner at Stride Ventures. Operating in nine markets across Africa, the Middle East, Europe and Asia, Moove has emerged as Uber's top vehicle supply partner in Europe, the Middle East and Africa (EMEA) and its largest global fleet partner. Currently, over 30 million trips have been completed in Moove-financed vehicles globally, said the startup. The company uses technology and productivity data to build an integrated, revenue-based vehicle financing platform for mobility entrepreneurs in emerging markets around the world who have limited or no access to a vehicle or vehicle financing. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/poco-oneplus-top-indian-smartphone-shipment-growth-but-overall-reading-flat/articleshow/107681294.cms">Poco, OnePlus top Indian smartphone shipment growth but overall reading flat</a> <a href="https://www.businessinsider.in/tech/mobile/news/seven-out-of-top-10-smartphones-sold-worldwide-in-2023-were-iphones/articleshow/107617907.cms">Apple domination: Seven out of top 10 smartphones sold worldwide are iPhones</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-february-2024/slidelist/107220575.cms">Samsung to Nothing – The upcoming smartphones hitting Indian market in February</a>

Mobility fintech startup Moove raises $10 mn to expand India footprint

Financial services platform for startups <keyword id="14074636" type="General" weightage="100" keywordseo="strideone" source="Orion">StrideOne</keyword> on Tuesday said it has raised Rs 250 crore via a mix of equity (led by <keyword id="211885" type="General" weightage="80" keywordseo="elevar-equity" source="Orion">Elevar Equity</keyword>) and debt from banks. StrideOne, started by founders of venture debt fund <keyword id="9353689" type="General" weightage="50" keywordseo="stride-ventures" source="Orion">Stride Ventures</keyword>, introduced a startup-led credit distribution model for their supply chains and crossed AUM (asset under management) mark of Rs 200 crore in six months of inception across more than 20 anchor companies. It aims to reduce technological and financing gaps by leveraging the startups' existing ecosystem (vendors, suppliers) to provide credit related and other financial products such as tie-up finance, personal loans, etc. "We have been trying to innovate newer structures that would be further conducive to startups who are looking to expand and grow their businesses," said <keyword id="13803875" type="General" weightage="50" keywordseo="ishpreet-singh-gandhi" source="Orion">Ishpreet Singh Gandhi</keyword>, Founder, StrideOne. StrideOne, an NBFC licensed by the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword>, said it leverages its team's expertise and deep-rooted understanding of the startup (anchor) ecosystem's financing need-gaps and their data on business performance and cash flows. StrideOne recently acquired tech firm EzCred platform and plans to make more tech-focused acquisitions in 2022. "The accelerated scale displayed by StrideOne reiterates the massive opportunity waiting to be unlocked in the extended startup ecosystem and we are excited to partner with them to bring it to life," said <keyword id="14074637" type="General" weightage="50" keywordseo="jyotsna-krishnan" source="Orion">Jyotsna Krishnan</keyword>, Managing Partner, Elevar Equity. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/startups/news/vineeta-singhs-sugar-cosmetics-raises-50-mn-as-it-plans-to-add-30000-stores/articleshow/91906537.cms">Vineeta Singh’s Sugar Cosmetics raises $50 million as it plans to add 30,000 stores</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/india/news/mango-production-down-by-80-in-up-due-to-abnormal-weather-conditions-say-growers/articleshow/91905401.cms">Mango production down by 80% in UP due to abnormal weather conditions, say growers</a>

StrideOne raises ₹250 crore to help reduce technological and financing gaps

<a href="https://markets.businessinsider.com/stocks/aapl-stock"></a><ul class="summary-list"><li>Loup Ventures' <keyword id="191552" type="PERSON" weightage="60" keywordseo="Gene-Munster">Gene Munster</keyword> doubled down on his bet that <keyword id="6354427" type="ORGANIZATION" weightage="60" keywordseo="apple">Apple</keyword> will be the top-performing FAANG stock in 2021 on Thursday.</li><li>Munster said Apple's recent quarter was the best in a decade in an interview with CNBC.</li><li>The Loup Ventures' managing partner added that Apple has room to grow in EVs, hardware as a service, and mixed reality.</li></ul><a href="https://markets.businessinsider.com/stocks/aapl-stock">Apple</a> is set to outperform its FAANG stock competition in 2021, according to Loup Ventures' Gene Munster.In an <a href="https://www.cnbc.com/video/2021/04/28/loup-ventures-gene-munster-digs-into-big-tech-earnings.html">interview with CNBC</a> on Thursday, Munster discussed the recent big tech earnings season and lauded Apple's performance."I have a prediction that Apple's going to be the top-performing FAANG for 2021. I'm well behind <a href="https://markets.businessinsider.com/stocks/googl-stock">Google</a> right now, I think they're up 30% to 40%, Apple's just up fractionally, but I continue to stand behind that," Munster said.Munster added that Apple's recent quarter was the best he has seen in a decade and that he believes the stock will move to $200 per share.Apple's revenue jumped 54% to $89.6 billion in its latest quarterly report. The company also notched a profit of $23.6 billion and increased its cash dividend by 7% increase to $0.22 per share.Management authorized an increase of $90 billion to Apple's existing share-repurchase program as well. Analysts mostly <a href="https://markets.businessinsider.com/news/stocks/apple-stock-price-2q-earnings-reactions-analyst-price-targets-upgrades-2021-4-1030365759">reacted positively</a> to the stand-out quarter. Wedbush's Dan Ives called the performance a "drop the mic" moment for Apple and CEO Tim Cook.Munster said that naysayers will argue this quarter's outstanding performance isn't sustainable with touch comps ahead, but he believes Apple will continue to prove the bears wrong by moving into new lines of business.To Munster's point, Bank of America's Wamsi Mohan maintained his "neutral" rating on Apple after the company's blowout quarter.Mohan <a href="https://www.youtube.com/watch?v=MUpPCIrWSnM">told CNBC</a> that antitrust risks, a potential corporate tax increase, and tough comparisons to previous quarters that were boosted by the work-from-home trend could drag on the stock in the coming months.Gene Munster disagrees, noting that Apple has new opportunities in hardware as a service (renting Macs, iPhones, iPad in bundled form), mixed reality, and electric vehicles that will buoy the company moving forward.Munster said that "transformative tech" companies like Apple will continue to make strides, despite questions about lofty valuations.

Apple will be the top-performing FAANG stock in 2021 despite Google's double-digit head start, Loup Ventures' Gene Munster says

30 women in venture capital to watch in 2018

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Matthias Hangst/Getty</div></div></div><ul><li>Pita Taufatofua made the remarkable transition from taekwondo to cross-country skiing in 12 months to make the Winter Olympics.</li><li>He was aided by Paul Bragiel, a venture capitalist, who once tried to make the Olympics in cross-country skiing.</li><li>Bragiel grew close to the Tongan Olympic team at the Rio Olympics.</li><li>Bragiel gave Taufatofua tips along the way and also helped two other cross-country skiers from Colombia and Mexico get to the games.</li></ul> After the men's 15km cross-country skiing race at the <a href="http://www.businessinsider.com/category/winter-olympics">Winter Olympics</a>, the three last-place finishers, from Mexico, Colombia, and Tonga, went out to celebrate.They got dinner with their teams and enjoyed a night filled with somaek, a Korean alcoholic drink, before partying at various Olympic houses, returning home at 5:00 in the morning.For these Olympians, it was a night of celebration - they were the last three finishers of the race, but making the Olympics was their ultimate goal, and they had reached the pinnacle after years of work. All of which makes Pita Taufatofua, the cross-country skier from Tonga, all the more unique."This motherf----r picked up a brand new sport in 12 months!" said Paul Bragiel, one of the men joining the festivities. "And it wasn't like he was an endurance runner like a marathoner - he was doing taekwondo!"Taufatofua's story is well-known by now. He <a href="http://www.businessinsider.com/tongan-flagbearer-pita-nikolas-taufatofua-star-of-olympics-opening-ceremony-2016-8">became a sensation at the Rio Olympics</a> for going shirtless during the opening and closing ceremonies. Afterward, he decided to try for the Pyeongchang Olympics, <a href="http://www.businessinsider.com/pita-taufatofua-cross-country-skiing-pyeongchang-olympics-2018-1">becoming a cross-country skier</a> in one year and remarkably qualifying for the games. But he couldn't have done it without the help of Bragiel.<h2>Tonga asked for help, and Bragiel obliged</h2>Bragiel's connection with Taufatofua and Tonga in general is incredibly unique. In 2013, Bragiel, an entrepreneur and venture capitalist in Silicon Valley, <a href="https://www.sfgate.com/business/article/Sochi-Olympics-dream-for-I-O-Ventures-Paul-5160287.php">tried making the 2014 Sochi Olympics as a cross-country skier</a>, but came just short.In 2015, Leafa Mataele Wawryk, the secretary general of the Tongan Winter Olympics team, asked Bragiel to meet to discuss the nation's fledgling team, so he agreed. Months later, he was invited to Tonga for the coronation of their king, and was surprised, but obliged, enjoying a week of festivities in the beautiful South Pacific island. When the Tongan team asked him for help raising money to get their athletes to Rio, he was also happy to help, using his connections to get them athletic wear and flights. Two weeks later, they surprised Bragiel by asking him to be part of their staff. Already in Rio for the games, he was thrilled to join the team.That was where he met the shirtless flagbearer, marching behind him at the opening ceremonies. When Taufatofua became a star in Rio, Bragiel helped manage the media requests and told him how to handle his newfound stardom.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Paul Gilham/GettyPita Taufatofua led the Tongan delegation, which included Paul Bragiel (beard, back right) at the Rio Olympics.</div></div></div>After the Rio Olympics were over, the Tongan team tried testing a few of their athletes in winter sports, but none of them did particularly well. They turned to Taufatofua, who <a href="https://www.wsj.com/articles/remember-the-shirtless-tongan-flag-bearer-hes-now-a-cross-country-skier-1515080603">told the Wall Street Journal</a> he was ready for a new challenge.By the time Taufatofua began training for Pyeongchang, beginning on roller-skis, Bragiel had retired from cross-country skiing. While Taufatofua trained, both in Australia on roller-skis and then in Austria on snow skis, he was in constant communication with Bragiel, messaging him on Facebook for tips and pointers.<h2>"You're talking about an amazing athlete."</h2>Taufatofua dropped over 20 pounds to make the transition from taekwondo to cross-country skiing - the first such transition in Olympic history, according to The Wall Street Journal. Taufatofua worked more on his lower-body, letting some of the upper-body strength he accrued in martial arts dissipate. According to Bragiel, Taufatofua is strict with his diet and he doesn't drink - dropping the weight came easily.And though Taufatofua barely had any exposure to snow before the Olympic games, Bragiel thought he saw Taufatofua making progress over the previous eight weeks, beginning to make strides in a sport he hadn't truly competed in until a few months ago.Bragiel thinks people don't recognize the athletic challenge of Taufatofua's achievement."I don't think people talk about that at all," he said. "They're like,''Ah yeah, great, we got this shirtless wonder.' It's like, dude, you're talking about an amazing athlete here.' In two different sports."He added: "I tried to do it in nine months; I came semi-close. He did it in 12 months and he pulled it off! It's like, goddamn, it just shows how amazing he is."<h2>"Team Exotic" celebrates</h2>The men's 15km cross-country race had one of the great moments of these games. Taufatofua, next to Colombia's Sebastian Uprimny (Bragiel is actually a part of Team Colombia, from his own Olympic pursuit in 2013) and several others <a href="http://www.businessinsider.com/last-place-cross-country-finish-german-madrazo-winter-olympics-2018-2">waited for Mexico's German Madrazo</a> (who Bragiel also helped get to Pyeongchang) at the finish line. Taufatofua finished third-to-last, Uprimny finished second-to-last, and Madrazo came in 26 minutes behind the first-place finisher."Team Exotic" as Bragiel said they nicknamed themselves, all finished together, celebrating their achievement.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Matthias Hangst/Getty Images,Several cross-country skiers waited for Mexico's German Madrazo to finish the race.</div></div></div>"A lot of these guys - they didn't know each other at all - but they all met each other at a race that they did in Colombia, actually," Bragiel said. "And they kinda all came together and became super close friends. "So yeah, after they all finished a race, that is their gold medal. They weren't going for the gold. The fact that they made the Olympics was their gold. So after that it was a huge party and people were super pumped, and years of work for some of these guys came to a conclusion of sorts."After dinner, the group went to the Austrian and Swiss ski houses, according to Bragiel. While some of the top countries haven't paid much attention to them, Bragiel said other nations have been enthralled with their unusual group."The coolest countries especially have been Finland and Switzerland," Bragiel said, adding, "Like the Swiss ski team coach is super pumped about it. The Finnish national team skiers are super pumped about it. A lot of these guys are, they race with them, so they kind of grew this camaraderie with them which is really cool."When the Winter Olympics end, Bragiel and Taufatofua hope to continue growing Tongan winter sports. Taufatofua said at the Olympics that he knew he wouldn't medal in cross-country skiing, but hoped to inspire younger Tongan generations to get into winter sports.And though there's nothing official, Taufatofua might already be eyeing the 2020 Olympics in Beijing. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/future-olympics-no-country-wants-to-host-games-2018-2">No one wants to host the Olympics anymore -&#xa0;will they go away?</a></h3> <div> </div> </div>

How a Silicon Valley venture capitalist became an unlikely resource to help Tonga's Pita Taufatofua make the Winter Olympics in 12 months

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>The Young Turks, one of the longest-running progressive digital video <keyword id="6354777" type="UNKNOWN" weightage="60" keywordseo="media">media</keyword> outlets, announced a major round of funding on Tuesday. Led by 3L Capital, Greycroft, &#xa0;e.ventures, and business executive and Democratic Party kingmaker&#xa0;Jeffrey Katzenberg's WndrCo. will invest $20 million&#xa0;in the progressive media company, which has been livestreaming hours of video content with a progressive perspective for over a decade."We've got the content side figured out pretty well, ranked number one in the <keyword id="6355005" type="UNKNOWN" weightage="60" keywordseo="news">news</keyword> vertical in all the rankings, but its time to build out the rest of the business," co-founder and host Cenk Uygur said in an interview with Business Insider.The Young Turks, which has been funded through&#xa0;advertising revenue, paid subscriptions, partnerships with VCs, and even crowd funding, plans to double the size of its newsroom and business operations to about&#xa0;200 people.Uygur said&#xa0;the company will focus&#xa0;much of the investment on filling out TYT's backend tech and sales needs, while 3L Capital's Shawn Colo also told Business Insider&#xa0;that the funding is partially billed toward helping TYT expand its creative marketing offerings, including live events.With&#xa0;many media companies offering "skinny bundles" of television channels offered as&#xa0;online-only broadcast networks, Uygur and Colo both see the moment&#xa0;as an opportunity for TYT to finally compete directly with traditional media companies and cable networks."We already are top three on&#xa0;Pluto and Comcast's Watchable, and we're very excited about the skinny bundles," Uyger said.&#xa0;"It's going to be a very productive place for growth and to be able to compete head-to-head with the TV&#xa0;players."The Young Turks have grown significantly since launching on YouTube in 2005, racking up <a href="https://www.wsj.com/articles/political-news-outlet-young-turks-raises-20-million-after-viewership-gains-1502186406">3.4 million subscribers</a>, which Colo described as highly engaged, and which investors viewed as attractive at a time when many digital media companies are fighting for readers' attention.The network hit its stride during the 2016 Democratic primary, throwing its full support behind Sen. Bernie Sanders during a moment when many left-leaning pundits, opinion columnists, and comedians were <a href="https://www.washingtonpost.com/politics/why-the-young-turks-and-their-viewers-love-bernie-sanders/2016/05/27/bd15e02e-2386-11e6-aa84-42391ba52c91_story.html?utm_term=.1ccc1efe061d">skeptical</a> of the Vermont senator and his campaign platform.&#xa0;Still, the announcement was met with some skepticism among many who have noted TYT's <a href="https://www.cnbc.com/2016/07/08/why-sanders-endorsement-probably-wont-help-hillary-clinton-with-millennials-commentary.html">aggressive</a>, at times obsessive coverage of money's influence on <keyword id="6358883" type="UNKNOWN" weightage="100" keywordseo="politics">politics</keyword>.During the 2016 primary, TYT was <a href="https://www.realclearpolitics.com/video/2016/11/02/cenk_uygur_wikileaks_reveal_hillary_clinton_as_a_symbol_of_corruption.html">particularly</a> critical of Hillary Clinton's business ties, criticizing her paid speeches to Wall Street executives and the Clinton foundation's <a href="https://www.youtube.com/watch?v=ApcqXijVzYU">conduct</a>.&#xa0;Uyger dismissed the argument, saying&#xa0;he was "greatly amused by the lack of reason" of his critics.The TYT founder said the network would remain committed to removing&#xa0;big money from politics, and noted that he didn't see the investment&#xa0;as corrupting the network's political coverage or bent."Getting money into your company is a completely different concept, it has nothing to do with money in politics," Uyger said. "It's a preposterous statement. How could anyone ever build a company if they didn't have investments? It doesn't make any sense, I don't know how to address it when its not based on logic."<div></div><div></div><div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/joshua-green-devils-bargain-chris-christie-trump-election-night-germaphobe-cell-phone-2017-7">Chris Christie ruined his relationship with Trump because the president is a germaphobe</a></h3> <div> </div> </div>

Progressive media outlet The Young Turks has raised $20 million in venture capital funding and plans to double its staff

Come <keyword id="124343" type="UNKNOWN" weightage="100" keywordseo="Womens-Day">Women’s Day</keyword> on March 8 and we get bogged down in a flood of seminars and events, all proclaiming to know what’s best for <keyword id="2101992" type="UNKNOWN" weightage="100" keywordseo="Womens-self-development">women’s self-development</keyword>. But this year, we have decided to move away from the experts and talk with <keyword id="624" type="ORGANIZATION" weightage="100" keywordseo="Women">women</keyword>, whose real-life stories of <keyword id="2101993" type="UNKNOWN" weightage="100" keywordseo="Struggle-and-success">struggle and success</keyword> are bound to inspire all. In the first part of our Power Women series, <keyword id="824043" type="COMPANY" weightage="100" keywordseo="Business-Insider">Business Insider</keyword> India chats with <keyword id="484475" type="PERSON" weightage="100" keywordseo="Sramana-Mitra">Sramana Mitra</keyword>, an <keyword id="2101987" type="UNKNOWN" weightage="100" keywordseo="entrepreneur-and-a-strategy-consultant">entrepreneur and a strategy consultant</keyword> in <keyword id="6357722" type="COMPANY" weightage="100" keywordseo="silicon-valley">Silicon Valley</keyword> since 1994. Her fields of experience span from <keyword id="2101994" type="UNKNOWN" weightage="100" keywordseo="Technology-disciplines">technology disciplines</keyword> like <keyword id="145965" type="TECHNOLOGY" weightage="100" keywordseo="semiconductors">semiconductors</keyword> to sophisticated <keyword id="2101995" type="UNKNOWN" weightage="100" keywordseo="Consumer-marketing-industries">consumer marketing industries</keyword> including <keyword id="6" type="ENTERTAINMENT" weightage="100" keywordseo="fashion">fashion</keyword> and <keyword id="6355445" type="COMPANY" weightage="100" keywordseo="Education">education</keyword>. 
 As a <keyword id="2101998" type="UNKNOWN" weightage="100" keywordseo="Serial-entrepreneur-CEO">serial entrepreneur-CEO</keyword>, Sramana had earlier founded three companies – Dais (off-shore software services), Intarka (sales lead generation and qualification Software; VC: NEA) and Uuma (online personalised store for selling clothes using Expert Systems software; VC: Redwood). Two of these were acquired while the third received an acquisition offer from <keyword id="212570" type="COMPANY" weightage="80" keywordseo="Ralph-Lauren">Ralph Lauren</keyword> which the company did not accept. Back in 2010, she also set up a virtual incubator called <keyword id="484477" type="UNKNOWN" weightage="100" keywordseo="One-Million-by-One-Million">One Million by One Million</keyword>, to help a million entrepreneurs from all over the world to reach a million dollars in annual revenue, build $1 trillion in global <keyword id="35050" type="CITY" weightage="60" keywordseo="gdp">GDP</keyword> and create 10 million jobs. What has life in Silicon Valley has taught Sramana? Here are the edited excerpts from our chat. 
 
<keyword id="107737" type="ORGANIZATION" weightage="100" keywordseo="Entrepreneurship">Entrepreneurship</keyword> is not easy People often ask what inspired me to be an <keyword id="6359301" type="POSITION" weightage="100" keywordseo="Entrepreneur">entrepreneur</keyword>. Well, I am an entrepreneur’s daughter. I grew up watching my father run companies and I am sure that was a fundamental influence. But I also believe entrepreneurship is both <keyword id="49685" type="UNKNOWN" weightage="60" keywordseo="Genetic">genetic</keyword> and environmental. My maternal great grandfather was also an entrepreneur; so I had genes from both sides. 
 But let’s come back to the hard facts and let me tell you, entrepreneurship is not easy. Of course, there are many instances of overnight speculative success where you build something for a little bit, and someone comes and scoops it up for a lot of money. However, building long-term, sustainable value is extremely difficult. I have enjoyed my <keyword id="6374782" type="UNKNOWN" weightage="100" keywordseo="journey">journey</keyword>, but I have also made sacrifices to become an entrepreneur. What I am doing today with <keyword id="2102002" type="UNKNOWN" weightage="100" keywordseo="1M">1M/1M</keyword> is extremely difficult, extremely complex. 
 
Get over the <keyword id="150208" type="UNKNOWN" weightage="100" keywordseo="fear-of-failure">fear of failure</keyword> In January 2009, in the midst of raging <keyword id="6371665" type="UNKNOWN" weightage="100" keywordseo="financial-crisis">financial crisis</keyword> and a deep <keyword id="44850" type="UNKNOWN" weightage="100" keywordseo="Global-recession">global recession</keyword>, I hosted an <keyword id="2102006" type="UNKNOWN" weightage="100" keywordseo="Online-entrepreneurship-forum">online entrepreneurship forum</keyword> for <keyword id="2102008" type="UNKNOWN" weightage="100" keywordseo="Laid-off-engineers">laid-off engineers</keyword> who were considering a <keyword id="2102009" type="UNKNOWN" weightage="100" keywordseo="Switch-to-entrepreneurship">switch to entrepreneurship</keyword>. There were 220 people registered for the event and 130 attended. About 145 questions were submitted, from which we synthesised some of the most commonly asked. Among those was one I want to close this volume with: How do you overcome the fear of failure? 
 When I was younger, I had an enormous fear of failure. I was quite used to winning and I was very bad at losing. Since then, while I have been successful in many ways, I have also failed at various attempts. My attempt at building a product company out of India in 1997 succeeded somewhat, but the company did not become a revolutionary brand of the order that I aspired for, nor did it achieve any significant scale. Somewhere along the way, though, I developed the <keyword id="23254" type="PERSON" weightage="100" keywordseo="wisdom">wisdom</keyword> to take things in stride, embrace failure, learn from it and rise above it. 
 
Develop a personal philosophy: <keyword id="6389686" type="PERSON" weightage="100" keywordseo="Faith">Faith</keyword> &amp; <keyword id="88092" type="UNKNOWN" weightage="100" keywordseo="conviction">conviction</keyword> will get you going When I look back on my journey to trace the development of that wisdom, I see one overriding theme. Very early in life, I developed a personal philosophy. An unlikely juxtaposition of ideas culled from various systems of thought – from the <keyword id="62706" type="UNKNOWN" weightage="100" keywordseo="Upanishads">Upanishads</keyword> and <keyword id="28423" type="CITY" weightage="100" keywordseo="vedanta">Vedanta</keyword>, from <keyword id="78326" type="UNKNOWN" weightage="100" keywordseo="hindu-scriptures">Hindu scriptures</keyword>, <keyword id="115232" type="PERSON" weightage="80" keywordseo="Ayn-Rand">Ayn Rand</keyword>’s Atlas Shrugged and The Fountainhead, and certain <keyword id="2102012" type="UNKNOWN" weightage="100" keywordseo="Buddhist-concepts">Buddhist concepts</keyword> of Futility &amp; <keyword id="910745" type="UNKNOWN" weightage="100" keywordseo="nothingness">Nothingness</keyword>. 
 
The Hindu system of thought has a very powerful core concept: Tat Tvam Asi or I Am He. Instead of worshipping an external God, the Hindus believe that God is inside. Indeed, a powerful way of thinking. If the ultimate perfection lies inside you, and all you need to do is realise your own potential, much of your fundamental self-doubt vanishes. At least at an existential level, the individual is complete within. 
 Ayn Rand offers a similarly individualistic perspective, although from a radically different point of view. Rand’s <keyword id="18935" type="ENTERTAINMENT" weightage="80" keywordseo="heroes">heroes</keyword> and heroines move mountains. Although reared in a communist and collectivist Russian background, he celebrates individual achievements and believes in one man’s ability to make a difference. Many entrepreneurs I know have been influenced by Rand’s writings and have drawn inspiration, especially from the character of <keyword id="2102013" type="UNKNOWN" weightage="80" keywordseo="Hank-Rearden">Hank Rearden</keyword> in Atlas Shrugged, who fights against all odds with tremendous <keyword id="740992" type="COMPANY" weightage="100" keywordseo="resilience">resilience</keyword>. Similar <keyword id="38769" type="UNKNOWN" weightage="100" keywordseo="self-confidence">self-confidence</keyword> echoes in The Fountainhead’s architect hero, <keyword id="199919" type="PERSON" weightage="80" keywordseo="Howard-Roark">Howard Roark</keyword>, whose resilience and <keyword id="2102014" type="UNKNOWN" weightage="100" keywordseo="Personal-integrity">personal integrity</keyword> propel him towards a vision of architecture condemned by his contemporaries for its bold originality and threatening innovation. 
 
Yes, conviction and faith are incredibly important components of a sustainable personal philosophy, but where does it come from? How do you develop it? 
 
This is a question you must ask yourself. I can offer pointers on what to study, but how your own psyche will respond to the stimulus – I cannot tell. This is a spiritual, experiential journey, and you have to go it alone. 
 I will, however, share three more components from my own bag of wisdom: <keyword id="52698" type="UNKNOWN" weightage="100" keywordseo="laughter">Laughter</keyword>, <keyword id="54209" type="UNKNOWN" weightage="100" keywordseo="compassion">Compassion</keyword> and Nothingness. 
 
When the individualistic ideology overwhelms, when your head swells with self-aggrandisement, think of the Himalayas. Or the Pacific Ocean. Or the Universe. One can soon comprehend that we are nothing; we are insignificant; we are a single speck of dust in the continuum of time. So why be afraid of failure? 
 
Believe in the <keyword id="46426" type="UNKNOWN" weightage="100" keywordseo="Turnaround">turnaround</keyword> I was once fired from one of my own companies. I raised the <keyword id="6357097" type="COMPANY" weightage="80" keywordseo="venture-capital">venture capital</keyword> and we brought on a middle-aged, supposedly experienced guy as <keyword id="5645" type="POSITION" weightage="100" keywordseo="CEO">CEO</keyword>. I was in my twenties. The guy was incompetent and political. He didn’t understand the product, had no vision. We couldn’t figure any of these out until he joined, because he was on a charm offensive until then and I had limited experience of making a hire like this. We thought he could complement my product skills and vision with superior sales skills. 
 
Once he was on board, it started going downhill very quickly and he set out to fire me. I had massive immigration challenges, and had very little negotiating power because I didn’t have a Green Card then. 
 To cut a long story short, I was in <keyword id="76147" type="CITY" weightage="80" keywordseo="BUENOS-AIRES">Buenos Aires</keyword> when he called a Board Meeting on the phone and fired me. And the Board let him. I walked around on the streets of Buenos Aires trying to absorb the blow. 
 
Six months later, they had to fire the CEO. The angel investors offered to fund me again and start another company. I did. 
 
Life went on… Life always goes on. 
 Finally, if you are a woman and a wannapreneur, here’s one sound piece of advice. Be a damn compelling entrepreneur, not just a damn compelling <keyword id="210081" type="POSITION" weightage="100" keywordseo="woman-entrepreneur">woman entrepreneur</keyword>. 
 
Watch this space tomorrow – <keyword id="122850" type="UNKNOWN" weightage="100" keywordseo="power-women">Power Women</keyword> will be back with their intriguing success stories.

Power Women: I
Was Fired From My Own Company & What I Learnt From It

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Secret Escapes, a British travel deals website that bills itself as "the worst-kept secret in luxury travel," has raised $60 million in a new funding round led by Google Ventures.The round, in which previous investors Index Ventures and Octopus Investments are also participants, will go towards funding the company's international expansion. <a href="http://techcrunch.com/2015/07/26/google-ventures-joins-60m-round-for-members-only-travel-site-secret-escapes/">We first saw the news over on TechCrunch</a>.Members-only site Secret Escapes launched back in 2011, <a href="http://www.ibtimes.co.uk/google-invests-secret-escapes-online-travel-firm-secures-60m-funding-1512435">and, according to International Business Times</a>, has over 19 million members and has sold 2 million rooms. It offers flash sales on hotels and resorts, and <a href="http://www.secretescapes.com/about-us">claims</a> to be able to save its members&#xa0;up to 70% of standard prices. Current offers on the website include a hotel in Cornwall, a castle in Wales, and a tour of Iceland.This new funding round - <a href="http://techcrunch.com/2012/10/15/luxury-travel-online-members-club-secret-escapes-raises-8-million-led-by-index-ventures-plans-for-international-launch/">its first since 2012</a> - will help Secret Escapes&#xa0;to expand into the US and Asia. (It already operates in 13 countries, <a href="http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/11761386/Secret-Escapes-secures-60m-in-funding-for-expansion.html">the Telegraph reports</a>.)In a statement about the Series C round, CEO Alex Saint said: "The cash injection of $60m will enable Secret Escapes to continue making great strides to replicate the success of our <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> business. We forecast to be a global multi-billion turnover business by the end of the decade."There's no word on the company's valuation - we've reached out to Secret Escapes for comment.<h2>Here's one of Secret Escapes'&#xa0;TV ads:</h2><div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/google-science-projects-sidewalk-labs-2015-6">Here are all of Google's awesome science projects - that we know about</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="ZtN3hsdTqYK9TxBIngQEpdp4rrLU4ouo" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

British luxury travel site Secret Escapes just raised $60 million from Google Ventures and others

<ul><li><keyword id="23199407" type="General" weightage="20" keywordseo="Hans-Peter-Brondmo" source="keywords">Hans Peter Brondmo</keyword>, ex-CEO of <keyword id="19902762" type="General" weightage="20" keywordseo="Google" source="keywords" meta.keywordsubtype="org" meta.entityname="Google" meta.hostid="261" meta.entityid="Google">Google</keyword>'s <keyword id="23199408" type="General" weightage="20" keywordseo="Everyday-Robots" source="keywords" meta.keywordsubtype="org" meta.entityname="Everyday Robots" meta.hostid="261" meta.entityid="Everyday Robots">Everyday Robots</keyword>, talks about AI-powered robots</li><li>He says that versatile robots are far away in future</li><li>He also added that robots shouldn't look like humans</li></ul> <keyword id="19895433" type="General" weightage="20" keywordseo="Tesla" source="keywords" meta.keywordsubtype="org" meta.entityname="Tesla" meta.hostid="261" meta.entityid="Tesla">Tesla</keyword> and Space X chief <keyword id="19903807" type="General" weightage="20" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword> has often talked about how robots will be common in the near future. Tesla is also developing a humanoid robot that has been talked about on many occasions by Musk. While Musk expects that robots will be among us soon, the former head of Google's ambitious robotics project Everyday Robots thinks otherwise. Hans Peter Brondmo, who used to be the CEO of Everyday Robots, has shed light on the complex journey of developing AI-powered robots capable of operating in real-world environments. In an authored piece for Wired, Brondmo shared his belief that building versatile robots will take far longer than <keyword id="19915272" type="General" weightage="20" keywordseo="Silicon-Valley" source="keywords">Silicon Valley</keyword> expects. He also said that robots should not look like humans and revealed what he learnt at the company while he was at its helm for 7 years. Brondmo, who joined Google's secretive innovation lab X (formerly Google X) in 2016, was tasked with overseeing a bold venture to create robots that could assist humans in everyday tasks. Google's founder, Larry Page, envisioned a future where robots could use end-to-end learning—essentially figuring out how to complete tasks on their own with minimal guidance. However, this ambitious vision proved to be more difficult to achieve than expected. Reflecting on his time leading the project, Brondmo explained that one of the most significant challenges was teaching robots to function in complex, unpredictable environments. While AI systems have made strides in learning from large datasets, robots require even more data to understand and respond to the real world effectively. Brondmo said that it may take "many thousands, maybe even millions of robots" collecting data in diverse settings before we reach a point where AI models can perform tasks beyond narrow, well-defined roles. One of Brondmo's personal motivations for developing <keyword id="20673242" type="General" weightage="100" keywordseo="AI-robots" source="keywords">AI robots</keyword> came from his mother, who suffered from advanced Parkinson's disease. He had long hoped that robots could one day assist her and others with similar conditions. This personal connection fueled his belief in the potential of robots to make a positive impact on people's lives. Despite the closure of Everyday Robots in 2023, Brondmo remains optimistic about the future of robotics. He wrote in the piece that he believes robots are essential and their development is inevitable, but he worries that Silicon Valley's focus on quick solutions and its reluctance to invest in hardware could hinder progress. He added that he is afraid investors might not have the patience to support the long-term development required to build truly capable robots. Brondmo also cautioned that the current focus on creating <keyword id="20176157" type="General" weightage="20" keywordseo="humanoid-robots" source="keywords">humanoid robots</keyword> is misguided. Instead of mimicking human form, he feels that robots should be designed with practicality and functionality in mind. By focusing on robots that can effectively assist humans in everyday life, rather than on their appearance, Brondmo believes we can unlock the true potential of robotics. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/ai-is-entering-classrooms-in-italy-new-learning-tools-to-be-tested-in-15-classrooms-across-four-regions/articleshow/113364057.cms" data-type="tilCustomLink" target="_blank">AI is entering classrooms in Italy, new learning tools to be tested in 15 classrooms across four regions</a> <a href="https://www.businessinsider.in/tech/news/you-dont-have-to-know-everything-ex-microsoft-india-employee-shares-biggest-lessons-he-learnt-at-satya-nadellas-company/articleshow/113382097.cms" data-type="tilCustomLink" target="_blank">You don't have to know everything: Ex-Microsoft India employee shares biggest lessons he learnt at Satya Nadella's company</a>

AI robots should not look like us, says Ex-Google robotics moonshot boss as he explains what he learnt at the company

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back to our Sunday edition. This is Matt Turner, back in your inbox after a fulfilling and exhausting period of <a target="_blank" href="https://www.businessinsider.com/workers-dont-take-all-parental-leave-because-of-corporate-bias-2022-12">parental leave</a>.What a week to return to work: I started back just in time for a <a target="_blank" href="https://www.businessinsider.com/amazon-ceo-return-to-office-mandate-5-days-week-2024-9">big RTO announcement from Amazon</a>, a new crypto venture from <a target="_blank" href="https://www.businessinsider.com/trump-crypto-partners-chase-herro-zachary-folkman-lawsuits-jail-debt-2024-9">former President Donald Trump</a>, a <a target="_blank" href="https://www.businessinsider.com/fed-cuts-interest-rates-how-much-september-fomc-powell-inflation-2024-9">jumbo rate cut</a> from the Fed, a <a target="_blank" href="https://www.businessinsider.com/nike-new-ceo-elliott-hill-may-help-ailing-sneaker-brand-2024-9">major shakeup at Nike</a>, and a <a target="_blank" href="https://www.businessinsider.com/cheaper-apple-iphone-16-earning-praise-over-pro-models-2024-9">new iPhone launch</a>. There's now just 43 days until the US election.You can keep up to date with all the latest business news (and get your Dan DeFrancesco fix) in our weekday edition, or check out our homepage or <a target="_blank" href="https://www.businessinsider.com/app">download our app</a>.I'll be here on the weekend to break down some of the biggest stories in business and help you get ahead.On the agenda today:<ul><li>Meet the enigmatic manager who <a target="_blank" href="https://www.businessinsider.com/larry-page-family-office-koop-ceo-wayne-osborne-wealth-management-2024-9">oversees Larry Page's Google fortune</a>.</li><li>Amazon just dropped the hammer <a target="_blank" href="https://www.businessinsider.com/amazon-rto-faq-document-spells-out-new-rule-2024-9">on remote work</a>.</li><li>The Alexander brothers acted like they could <a target="_blank" href="https://www.businessinsider.com/alexander-brothers-oren-alon-tal-rape-sexual-assault-allegations-2024-9">"do whatever they wanted."</a></li><li>Welcome to a new era of work: <a target="_blank" href="https://www.businessinsider.com/what-is-portfolio-career-pros-cons-income-streams-side-hustles-2024-9">The portfolio career</a>.</li></ul>But first: How Nike lost its footing.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today-sunday-edition">sign up here</a>. Download Insider's app <a target="_blank" href="https://www.insider.com/app">here.</a><h3 id="58506b3b-b008-4ead-9e90-71439c9e98dd">This week's dispatch</h3><h2 id="a2d02f54-0792-42da-abd8-aa8332957a15">Nike's airball</h2>It's been a rough few years for the home of the Swoosh.The sports giant has seen declining sales, cost cutting, and a stock price that's down sharply from its 2021 highs. Attempts to go direct to consumers rather than via retailers showed mixed results, while it's faced more competition in China.Arguably worse than that, Nike lost its role as chief purveyor of cool. Asics, New Balance, Hoka, On, and others have stolen a stride in the sneaker business. And Nike's efforts to expand its lifestyle business have missed the mark.Now it's hoping a <a target="_blank" href="https://www.businessinsider.com/nike-new-ceo-elliott-hill-may-help-ailing-sneaker-brand-2024-9">new CEO</a> can help get it back on track. The Oregon-based company last week announced Elliott Hill would return to the company as CEO, replacing John Donahue. One analyst said his appointment would drive an "immediate morale boost."Nike's stock price popped on the news. Investors are hoping for a change in form.<div type="image" title="Photo collage of Wayne Osborne and Google co-founder Larry Page, surrounded by Google search elements, the Google logo, falling money, yachts, and private islands" height="1500" width="2000" msid="113571621" hostid="261" sizebytes="172450"></div><h2 id="bf62ddae-6ea7-47df-a846-a2896f1b6a1a">Larry Page's money man</h2>Wayne Osborne has guarded the Google founder's fortune since 2012. For years, Osborne has kept his employer shrouded in secrecy. "Wayne operates in the shadows," as one industry peer put it.Now, he's stepping out. Osborne is seeking to promote his new company, Way2B1, whose software can put his trade secrets to work for other investors.There's just one catch: How does he maintain Page's privacy while hawking the secrets to his success?<a target="_blank" href="https://www.businessinsider.com/larry-page-family-office-koop-ceo-wayne-osborne-wealth-management-2024-9">Inside Osborne's playbook</a>.<h2 id="1269b9e2-104f-48e4-b665-84be703ed57a">RIP, remote work</h2>Amazon officially put the kibosh on remote work, announcing that all corporate workers must return to the office five days a week starting in January. In a memo, CEO Andy Jassy said the company was returning to how "we were before the onset of COVID."An internal "Frequently Asked Questions" document, obtained by Business Insider, outlined how the RTO plan will work. According to the brief, Amazon also ended a policy that gave employees the option to work up to four weeks per year fully remote.<a target="_blank" href="https://www.businessinsider.com/amazon-rto-faq-document-spells-out-new-rule-2024-9">See all the details from the internal doc</a>.Also read:<ul><li><a target="_blank" href="https://www.businessinsider.com/amazon-workers-blast-strict-rto-mandate-five-days-week-2024-9">Amazon employees blast new RTO policy in internal messages: 'Can I negotiate my manager to PIP me?'</a></li><li><a target="_blank" href="https://www.businessinsider.com/amazon-rto-rule-one-medical-2024-9">Amazon's strict new RTO rule creates an awkward situation for One Medical</a></li><li><a target="_blank" href="https://www.businessinsider.com/amazon-rto-employee-coffee-badging-office-2024-9">I work at Amazon, and I plan on 'coffee badging' instead of working from the office 5 days a week</a></li></ul><div type="image" title="The Alexander brothers interspersed with the silhouette of a woman" height="1500" width="2000" msid="113571618" hostid="261" sizebytes="234908"></div><h2 id="d613c78f-a3a9-4058-9d52-14230c12cd70">The Alexander brothers' reign of terror</h2>The brothers were rich. They were powerful. They were handsome. They were not so secretly terrorizing women.In the past three months, more than a dozen women have said they were raped or assaulted by Oren, Alon, and Tal Alexander, whose family made a fortune in real estate and private security. Concerns about their behavior stretch back decades — and yet they got away with decades of alleged abuse.<a target="_blank" href="https://www.businessinsider.com/alexander-brothers-oren-alon-tal-rape-sexual-assault-allegations-2024-9">"They are a menace."</a><div type="image" title="Different images filling up various blocks on a grid referencing a calendar" height="1500" width="2000" msid="113571617" hostid="261" sizebytes="105960"></div><h2 id="d41d777c-2a4f-4892-8c74-15aeb5ec809a">A new way to work</h2>Overemployment and side gigs are nothing new. But as demand for full-time workers slows, more and more people could be looking for a change. Enter: the portfolio career.The term refers to holding down a collection of gigs, whether or not you keep a 9-to-5 job. Diversifying your income stream can help protect you from the whims of the job market, and can offer more flexibility — but it does have some downsides.<a target="_blank" href="https://www.businessinsider.com/what-is-portfolio-career-pros-cons-income-streams-side-hustles-2024-9">How to make a portfolio career work</a>.Also read:<ul><li><a target="_blank" href="https://www.businessinsider.com/finding-job-awful-right-now-drop-in-openings-tough-search-2024-9">Why finding a job is so awful right now</a></li><li><a target="_blank" href="https://www.businessinsider.com/jobs-recent-college-grads-hiring-slowdown-unemployment-higher-than-population-2024-9">Gen Z college grads are bearing the brunt of today's tricky job market</a></li></ul>This week's quote:"But you can't. That's not available to you."— Mark Zuckerberg, after his daughter said she <a target="_blank" href="https://www.businessinsider.com/mark-zuckerberg-daughter-wanted-to-be-like-taylor-swift-2024-9">wanted to be like Taylor Swift when she grows up</a>.More of this week's top reads:<ul><li>Inside Amazon's new AI-sales machine: <a target="_blank" href="https://www.businessinsider.com/amazon-ai-sales-machine-aws-google-microsoft-pressure-pay-speed-2024-9">More pressure, more pay, more speed</a>.</li><li>Introducing the hottest new dating app: <a target="_blank" href="https://www.businessinsider.com/instagram-dating-app-dm-era-of-swipe-fatigue-2024-9">Instagram</a>?</li><li>How stretch limos went from <a target="_blank" href="https://www.businessinsider.com/stretch-limo-death-suv-black-car-uber-lyft-sprinter-2024-9">cool to Craigslist junk</a>.</li><li>Silicon Valley is giving 2021 vibes, with <a target="_blank" href="https://www.businessinsider.com/ai-startups-rapid-funding-rounds-2024-9">AI startups raising back-to-back funding rounds</a>.</li><li>OpenAI and Anthropic AI bots <a target="_blank" href="https://www.businessinsider.com/openai-anthropic-ai-bots-havoc-raise-cloud-costs-websites-2024-9">wreak havoc and raise costs for websites</a>.</li><li>Trump's crypto allies boast <a target="_blank" href="https://www.businessinsider.com/trump-crypto-partners-chase-herro-zachary-folkman-lawsuits-jail-debt-2024-9">lavish lifestyles amid a trail of debts</a>.</li><li>The illegal maneuvers <a target="_blank" href="https://www.businessinsider.com/white-collar-fraud-wealthy-class-tax-evasion-insider-trading-2024-9">the rich use to get richer</a>.</li><li>Go behind the scenes with the reporter who <a target="_blank" href="https://www.businessinsider.com/robert-f-kennedy-jr-rfk-olivia-nuzzi-oliver-darcy-interview-2024-9">uncovered the RFK Jr./Olivia Nuzzi story</a>.The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a target="_blank" class="" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York. Grace Lett, editor, in Chicago. <a target="_blank" class="" href="https://www.businessinsider.com/author/amanda-yen">Amanda Yen</a>, fellow, in New York.</li></ul>

Insider Today: Nike's airball

<ul class="summary-list"><li>Amid a lackluster earnings call, Tesla CEO Elon Musk said he plans to make Dojo compete with Nvidia.</li><li>But his fledgling supercomputer has a long way to go before competing with the chip-producing giant.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">Elon Musk</a> made another big promise this week during a lackluster earnings report that sent Tesla stock tumbling more than 7%.The <a target="_blank" class="" href="https://www.businessinsider.com/tesla-ceo-elon-musk">Tesla CEO</a> said the company will "double down" on developing its <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-doubles-down-tesla-dojo-compete-with-nvidia-2024-7">Dojo supercomputer</a>, hoping to compete with the chip-producing giant Nvidia."We do see a path to being competitive with Nvidia with Dojo," Musk told investors and analysts during Tuesday's call. "And I think we kind of have no choice because the <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-demand-ai-chips-blackwell-hopper-ceo-jensen-huang-earnings-2024-5">demand for Nvidia</a> is so high, and it's obviously their obligation essentially to raise the price of GPUs to whatever the market will bear, which is very high. So I think we've really got to make Dojo work, and we will."It's not the first time Musk has made a <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-promises-that-havent-worked-out-yet-2019-4">grandiose promise</a> about what his tech could do without certainty he'd reach his desired outcome — and it's not clear he'll be able to follow through with this one, either.Musk first mentioned Dojo, the supercomputer designed to improve Tesla's Full Self-Driving (FSD) technology, in 2019. While the company has invested heavily in the ultra-powerful training computer and associated hardware, analysts agree Dojo doesn't yet compare to Nvidia.The most bullish investors, like Wedbush analyst Dan Ives, see Tesla as just starting the next chapter in its "growth story" via its investments in AI. Though Musk has big goals for advancement in AI technology, Ives predicted in a recent company report for Tesla that "that vision is on the doorstep."Nvidia, which was founded in 1993, has market dominance with a $2.78 trillion market cap — and its GPUs are in such high demand (from clients including Musk's Tesla and xAI) that the CEO Jensen Huang has had to assure analysts that the company is <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-earnings-ai-chips-demand-jensen-huang-allocate-fairly-stock-2024-2">allocating them fairly</a>.Roey Kosover, director of the investment fund FinYX Fund SPC, told <a target="_blank" class="" href="https://www.investing.com/news/stock-market-news/teslas-musk-says-dojo-will-be-competitive-analyst-says-dojo-still-10-years-away-3533284">Investing.com</a> that shareholders have benefited tremendously from Musk's businesses, but "some of his assertions are not always accurate." Dojo, he estimated, has a capability about a decade behind Nvidia's current power and Nvidia has an "incredible record of continuing to evolve and expand.""Fundamentally, at the moment, Dojo doesn't do what Nvidia does and I am not sure it was ever designed to do that," Kosover told Business Insider. "Where it may have an advantage is that Dojo and its huge matrix architecture is perfect for where we think Neural Networks will go in the future and if that is the case then they may just be a better fit in this developing place."It appears Musk is betting that Dojo will be positioned well for future developments, Kosover noted, and there's potential for Dojo to compete in a few years — "but of course that doesn't take into account that Nvidia have shown incredible dexterity in development themselves and they may just have something similar that will be delivered before Dojo is the 'finished article.'"Representatives for Tesla and Nvidia did not immediately respond to requests for comment from Business Insider.When addressing questions about continued delays to <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-says-tesla-robotaxi-event-delay-due-to-redesign-2024-7">Tesla's Robotaxi project</a>, Musk acknowledged during the Tuesday call that his predictions "have been overly optimistic in the past."With his various business ventures, Musk has made massive strides in turning EVs into a status symbol, bringing forth innovations in space exploration with his reusable rockets and low Earth orbit satellites with Starlink. But while the billionaire has big dreams to innovate across industries, he's been off with his timeline — when his ideas make it to market at all.Musk, in 2016, promised Teslas would have fully <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-autonomous-tesla-drive-across-country-by-end-of-2017-2016-10">functional FSD technology</a> within two years. In 2019, he predicted regulatory approval for his <a target="_blank" class="" href="https://www.businessinsider.com/tesla-robotaxi-ai-event-delayed-october-report-stock-falls-2024-7">still-yet-to-be-revealed Robotaxi project</a> would take about a year. He estimated in 2014 SpaceX would <a target="_blank" class="" href="https://www.nbcnews.com/science/space/elon-musk-promises-spacex-will-stay-course-mars-n133971">take people to Mars</a> by 2024. The startup that tried to bring Musk's 2013 <a target="_blank" class="" href="https://www.businessinsider.com/hyperloop-one-build-elon-musk-futuristic-hyperloop-shutting-down-2023-12">Hyperloop</a> idea to life shut down last year.For now, it remains unclear if Musk's planned competition with Nvidia will meet the same fate.

Elon Musk made another big promise he may not be able to keep

<ul class="summary-list"><li><keyword id="19969321" type="General" weightage="100" keywordseo="EV-charging" source="keywords">EV charging</keyword> is so bad it's driving people back to <keyword id="19951339" type="General" weightage="20" keywordseo="fossil-fuels" source="keywords">fossil fuels</keyword>.</li><li>Lack of <keyword id="20111395" type="General" weightage="20" keywordseo="charging-infrastructure" source="keywords">charging infrastructure</keyword> is already a barrier for many would-be EV buyers.</li></ul>Difficulty charging and other issues are leading some EV buyers to consider switching back to fossil fuels — the latest bad sign for the <a href="https://www.businessinsider.com/electric-vehicle-misconceptions-about-the-ev-transition-market-sales-2024-5" target="_blank">EV transition</a>. A recent consumer study conducted by <a href="https://executivedigest.sapo.pt/wp-content/uploads/2024/06/Mobility-Consumer-Pulse-2024_Overview.pdf" target="_blank">McKinsey</a> found that 46% of US EV owners surveyed said they were likely to switch back to a gas-powered vehicle, compared to a global average of 29% of EV owners who said they would likely switch back to an internal-combustion engine. Respondents in 9 major countries said the top reason for potentially ditching their EVs was<a href="https://www.businessinsider.com/electric-car-ev-road-trip-toyota-bz4x-genesis-gv60-charging-2023-8" target="_blank"> a lack of charging infrastructure</a>, something the US has historically <a href="https://www.iea.org/reports/global-ev-outlook-2024/outlook-for-electric-vehicle-charging-infrastructure" target="_blank">lagged</a> behind other nations in building. Other charging issues high on the list included a lack of charging at home and the impact of long-distance driving. <keyword id="21396729" type="General" weightage="20" keywordseo="range-anxiety" source="keywords">Range anxiety</keyword> and access to charging infrastructure have long been considered <a target="_blank" href="https://www.businessinsider.com/electric-vehicle-charging-availability-cost-automakers-tesla-supercharger-advantage-2023-2">one of the top barriers to electric vehicle adoption</a>, but the revelation that these same issues may drive current <keyword id="22369439" type="General" weightage="20" keywordseo="battery-powered-car-owners" source="keywords">battery-powered car owners</keyword> back into <keyword id="20635927" type="General" weightage="20" keywordseo="gas-powered-cars" source="keywords">gas-powered cars</keyword> is a new blow for the already rocky <keyword id="20729481" type="General" weightage="20" keywordseo="EV-transition" source="keywords">EV transition</keyword>. Despite the challenges facing the segment, EVs accounted for a record 7.6% of all cars sold in the US in 2023 while the number of charging stations hit 61,000. While the rate of growth has slowed, industry experts and executives have said they expect some EV share to grow to 8% in 2024 as new models continue to hit the market, helping to keep their <a href="https://www.businessinsider.com/ev-electric-car-deals-leases-kia-hyundai-tesla-ford-2024-6" target="_blank">average price falling.</a> While there are plenty of shoppers interested in an electric vehicle, the options on sale today are often too big, too expensive, or not practical enough to replace a gas-powered car. Car companies are already <a target="_blank" href="https://www.businessinsider.com/automakers-back-to-the-drawing-board-ev-plans-2024-2">scrambling to adjust</a> to a sudden change in the electric vehicle market in order to draw more new customers. The slowdown in electric vehicle sales growth has rocked everyone from Ford to <a target="_blank" href="https://www.businessinsider.com/tesla-sales-miss-ev-slowdown-new-wave-customers-2024-4">Tesla</a>, denting sales and forcing executives to rethink their long-term plans for electric vehicles. While the industry has made great strides in electric vehicle range and battery charging times, <a target="_blank" href="https://www.businessinsider.com/ev-charging-needs-to-improve-amenities-offerings-stores-2024-6">huge holes in the infrastructure</a> make certain areas nearly impossible to navigate without a gas-powered engine. McKinsey's study found this issue to be particularly acute in the US, which had the second-highest rate of respondents say they're considering ditching their EV. (In first place was Australia, with 49% of respondents saying they are likely to switch back.) America's high placement shouldn't come as too much of a surprise. <a target="_blank" href="https://www.businessinsider.com/electric-vehicle-range-ev-charging-station-infrastructure-issues-2024-5">Charging infrastructure here has long been a hot-potato issue</a>, which has held back efforts to build more chargers. While a push from the automotive industry to fund charging infrastructure has led to a boom in public charging stations in the last two years, these have largely been money-losing ventures. On the government side, the Biden Administration has set aside $7.5 billion for charging infrastructure with a vow to add 500,000 EV charging stations by 2030. But that effort in reality has played out slowly so far, with only a handful of stations going live since the funding was approved two years ago. Addressing charging infrastructure is already high on the industry's list of priorities when it comes to removing barriers to adoption, but the fact that it might also drive existing EV owners away only amplifies the issue. Correction: July 9, 2024 — An earlier version of this story misidentified where respondents who said they were considering switching back to gas-powered cars because of charging issues were located. They were in 9 countries, not only the US.

EV charging is so bleak that some owners are considering going back to gas-powered cars, survey finds

<ul class="summary-list"><li>Anduril has just been selected as one of two vendors for a major US air force contract. </li><li>The 7-year-old start-up beat out legacy defense contractors Boeing, Lockheed, and Northrup Grumman. </li></ul>Anduril Industries, the defense tech startup run by <a target="_blank" href="https://www.businessinsider.com/palmer-luckey-anduril-defense-startup-ai-weapons-war-2024-3">Palmer Luckey</a>, has just been awarded a major contract by the US Air Force, beating out legacy names like Boeing and Lockheed Martin.Anduril, founded in 2017, has been contracted to design and test autonomous fighter jets as part of the <a target="_blank" href="https://www.af.mil/News/Article-Display/Article/3754980/air-force-exercises-two-collaborative-combat-aircraft-option-awards/#:~:text=The%20CCA%20program%20aims%20to,reduced%20costs%20and%20adaptable%20timelines.">Collaborative Combat Aircraft</a> (CCA) program, a core part of the Air Force's efforts to modernize its fleet.The Air Force hopes to eventually buy at least 1,000 CAA systems at a cost of $30 million per drone. In the latest <a target="_blank" href="https://comptroller.defense.gov/Portals/45/Documents/defbudget/FY2025/FY2025_Budget_Request_Overview_Book.pdf">fiscal 2025 budget request</a> it requested $557 million for the program and has said it plans to spend almost $9 billion on the initiative by 2029.The joint contract will be split between Anduril and General Atomics. The companies will now work on designing, manufacturing, and testing the unmanned aircraft and drones.The decision proves just how important autonomy and AI are to the future of US national security strategy.The final choice came down to five companies: Anduril, General Atomics, Boeing, Lockheed Martin, and Northrup Grumman. Rather than the stalwart giants of the defense industry with a long track record of building fighter jets, it was seven-year-old Anduril that the Air Force selected."Impossible to overstate the importance of this win," <a target="_blank" href="https://twitter.com/PalmerLuckey/status/1783317360193241161">tweeted</a> Luckey following the announcement."Anduril is proving that with the right team and business model, a seven-year-old company can go toe-to-toe with players that have been around for 70+. The real winner? The United States of America."The US military is increasingly turning to the growing pool of private defense tech start-ups as it races to compete with rivals like China to develop the most advanced military technology."As a country, we are actually making really good strides and moving fast enough," said Luckey in an interview with <a target="_blank" href="https://www.cnbc.com/video/2024/04/25/anduril-founder-palmer-lucky-talks-developing-unmanned-autonomous-fighter-jets-for-u-s-air-force.html#:~:text=Anduril%20Founder%20Palmer%20Luckey%20talks,jets%20for%20U.S.%20Air%20Force">CNBC.</a> "I'm confident we're going to deliver on budget and on schedule some really sick AI-powered fighter jets," he added.The success of Anduril will give hope to other AI players from Silicon Valley hoping to break into the defense sector.And the demand is there for them if they can make it: venture capitalists have put more than $100 billion into defense tech since 2021, according to <a target="_blank" rel=" nofollow" href="https://pitchbook.com/news/articles/defense-tech-boom-ukraine-china-israel">PitchBook</a> data."Anduril is proud to pave the way for other non-traditional defense companies to compete and deliver on large-scale programs," the company wrote in <a target="_blank" href="https://www.anduril.com/article/anduril-air-force-collaborative-combat-aircraft-CCA/">a statement</a>.

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